Ljubljana - The government's macroeconomic forecaster predicts that Slovenia's end-year GDP growth will have exceeded its latest projection, driven by buoyant private spending and a robust labour market.

The Institute of Macroeconomic Analysis and Development (IMAD) estimates the growth rate will be between half a percentage point and a full percentage point above its September forecast of 6.1%, even as it predicts growth will slow in the final quarter.

In an analysis published on Wednesday, it says that private consumption in particular is outpacing projections, supported by favourable conditions on the labour market.

For next year, IMAD is currently sticking with its forecast of 4.7% given the great uncertainty, listing the Covid pandemic and energy prices as the greatest risk factor.